Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a brief summary of a detailed note available to paid subscribers.
While retail sales grew 0.7% in September over the prior month for the sixth consecutive month, it is not grounds for celebration. It is an example of the divergence between lagging and leading economic indicators. This data must be placed in the context of worrisome leading economic data from the transport sector.
The Rabid Capitalist expects that the consumer will disappoint this holiday season.
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